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Randy Neugebauer
With Libor suit, Baltimore reinforces role as banking watchdog
With Libor suit, Baltimore reinforces role as banking watchdog

Two huge civil cases led by Baltimore — one that ended last week as the other gained momentum — spotlight City Hall's emerging role as an aggressive watchdog against the misdeeds of multinational banks. On Thursday, Wells Fargo settled a nationwide suit launched by the city four years ago that alleged the bank discriminated against black and Latino mortgage borrowers. Baltimore is also the lead plaintiff in a class action suit against a group of financial firms worldwide it accused of conspiring to keep a key interest rate benchmark low — and thereby siphon off money from the city treasury. The case, pending in a New York federal court, drew fresh attention when...

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